Section 90
Disclosure by political parties(1) A political party shall not accept or keep in its possession any anonymous monetary or other contribution, gift or property, from any source.
(2) A political party shall keep an account and asset book into which shall be recorded—
(a) all monetary and other forms of contributions received by the party; and
(b) the name and address of any person or entity that contributes any money or asset which exceeds N1,000,000.
(3) A political party shall not accept any monetary or other contribution which is more than N50,000,000 unless it can identify the source of the money or other contribution to the Commission.
(4) A political party sponsoring the election of a candidate shall, within three months after the announcement of the results of the election, file a report of the contributions made by individuals and entities to the Commission.
Anonymous contributions to political parties are banned by this section as every contribution, gift or property must come from an identifiable source.
The purpose of this section is to block loopholes that political parties may seek to exploit in contravening the provisions of the Constitution and the Electoral Act on contributions/donations to political parties.
By mandating political parties to keep records, this section re-inforces Section 225 (5) of the Constitution which empowers the Commission to give directions to political parties regarding the books or records of financial transactions which they shall keep and, to examine all such books and records.
Similarly, section 90 (3) mandates political parties not to accept contributions exceeding 50 million naira unless it can identify the source of money or contribution to the commission.
Section 225 (5) of the 1999 Constitution
